The Lithuanian furniture manufacturer Narbutas continues to develop with enormous speed into a major player on the international office furniture market. Turnover grew by 47% in 2018 to around € 75 million, of which 88% was realized through exports. Not only the turnover grew. Profit also increased and came to € 14.7 million before tax (EBITDA) (+ 37.3%)
Major improvement in Germany and France
In 2018 Lithuanian office furniture from Narbutas was exported to 60 countries. The majority of the foreign turnover is realized in the United Kingdom and in France . According to Gabriele Vaitonytė, head of Marketing at Narbutas, growth was strongest in Germany (growth of 109%) and France (growth of 76%) as well as in Eastern European countries, including Kazakhstan, Moldova, Ukraine, Belarus, Uzbekistan, Armenia, Georgia.
Narbutas USA established
Narbutas has an international dealer network of 600 partners and recently Narbutas USA was founded. With the participation in NeoCon last year, the company is working hard on the brand recognition of Narbutas in America.
Investments planned in 2019
Domestic sales grew by 47 percent and amounted to 9 million euro, which contrasts sharply with the export figures that the company showed in 2018. The rapid penetration of foreign markets forced Narbutas to significantly increase capacity and production volume. Not only has the company invested 7 million euros in its production facilities last year, 8 million euros have also been planned for this year. In 2018 the company had 924 employees, an increase of 35% compared to 2017.